This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Since the firm in the above figure is operating in a monopolistically competitive industry, in the ... (Read 167 times)

mp14

  • Hero Member
  • *****
  • Posts: 534
on: Jun 29, 2018
Since the firm in the above figure is operating in a monopolistically competitive industry, in the long run we can expect to see
 
  A) the typical firm's economic profits expand as production becomes more efficient.
  B) more firms entering the industry until economic profits are zero.
  C) the typical firm producing at the minimum point on its ATC curve.
  D) each firm expand its share of the total market.

Question 2

The long-run aggregate supply curve is vertical at 10 trillion, but the short-run aggregate supply curve intersects the aggregate demand curve at 12 trillion. From this, we know that
 
  A) the economy is operating below full capacity in the short run, and will have to adjust by hiring more workers, thus reducing unemployment.
  B) the price level is too high. The only way long-run equilibrium can be restored is to lower the price level.
  C) adjustments will have to occur so that the long-run aggregate supply equals 12 trillion.
  D) adjustments will have to occur so that the short-run aggregate supply intersects the aggregate demand curve at 10 trillion.
Macroeconomics: Principles, Applications and Tools ¦ O'Sullivan, Sheffrin, Perez ¦ 7th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

heinisk01

  • Sr. Member
  • ****
  • Posts: 329
Reply #1 on: Jun 29, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 50% of students answer this correctly


mp14

  • Member
  • Posts: 534
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

raili21

  • Member
  • Posts: 324
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Did you know?

About 60% of newborn infants in the United States are jaundiced; that is, they look yellow. Kernicterus is a form of brain damage caused by excessive jaundice. When babies begin to be affected by excessive jaundice and begin to have brain damage, they become excessively lethargic.

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Figure 7.1 shows the rapid decline in the trust of Americans in government since the 1960s. This de Figure 7.1 shows the rapid decline in the trust of Americans in government since the 1960s. This de
Mobilize each metatarsal–phalangeal joint with figure-8s. Hold the tarsal just below the ... Mobilize each metatarsal–phalangeal joint with figure-8s. Hold the tarsal just below the ...
Industry is responsible for 21% of global greenhouse gas emissions Industry is responsible for 21% of global greenhouse gas emissions
Figure and Ground Figure and Ground
Variable and absorption costing, explaining operating-income differences. Variable and absorption costing, explaining operating-income differences.
How much voltage does the resistor drop in Figure 10-2? How much voltage does the resistor drop in Figure 10-2?
Video: Action potentials - electrical characteristics and generation

For a complete list of videos, visit our video library